Molson Coors Raises $1.5 Billion Through Senior Notes Offering

By Chris Stiles • Sunday, May 24 06:41 • Permanent Link

Molson Coors Beverage Company moved to raise $1.5 billion through a two-part senior notes offering, splitting the deal into $500 million of 4.900% notes due 2031 and $1 billion of 5.500% notes due 2036.

The company said the securities will be senior unsecured and fully and unconditionally guaranteed by certain subsidiaries. The notes are being issued under an indenture dated May 29, 2024, with a second supplemental indenture dated May 27, 2026.

The transaction is being led by Citigroup Global Markets, BofA Securities and Goldman Sachs as representatives of the underwriters.

The filing also shows the company’s shelf registration was already in place under File No. 333-277183, and that the securities were being offered through an automatic shelf registration statement. The notes issuance adds a new layer of long-term debt, with the 2031 tranche carrying a lower coupon than the longer-dated 2036 tranche by 60 basis points. The market has reacted to these announcements by moving the company's shares -0.54% to a price of $42.53. For the full picture, make sure to review MOLSON COORS BEVER's 8-K report.

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